Preview

Strategic decisions and risk management

Advanced search
No 4-5 (2017)
View or download the full issue PDF (Russian)
https://doi.org/10.17747/2078-8886-2017-4-5

НАУКА

10-15 4128
Abstract

The article presents the results of a research of the principles, methods and models for discovery of crises in the economy in the early stages. The increase in the intensity of interaction of economic agents and increase the speed of information exchange and transactions frequency create preconditions not only for accelerating growth but also for the overheating of the economy with subsequent state of crisis. The relevance and importance of the work justifies increasing frequency, as global economic crises and crises of assets, and in opportunities of a statistically sound forecasting of development of crisis processes in the securities market. The object of the study was the crisis situation of the individual assets, as well as methods of detecting the crisis at an early stage.

16-29 4126
Abstract

Decision-making regarding cooperation with a particular company requires a sufficiently in-depth analysis of the attractiveness and prospects of such cooperation. Standard methods of analysis, such as analysis of economic activity, investment attractiveness and efficiency of investment projects, undoubtedly remain the main ones in the organization of interaction, but due to the fact that most companies deviate from the normative values of activity and still remain attractive enough for cooperation, the analysis of the efficiency of intrafirms corporate processes is becoming increasingly popular. The huge variety of risk management methods, along with the inability to obtain reliable information about the methods used within the firm, force stakeholders to pay attention to indirect signals of effectiveness evaluation. In the course of the research, it was suggested that stakeholders have their own judgment about the effectiveness of intracorporate management processes that are different from common valuation techniques and conducted their own research. Based on the survey data conducted with representatives of the top management of various sectors of the economy, a list of relevant criteria for the effectiveness of intra-corporate risk management was obtained. The use of statistical methods of analysis and methods of scientific knowledge allowed to develop a mathematical methodology for evaluating these criteria, and empirical data of 88 Russian companies in the non-financial sector were used as a basis for calculating control points for application in practice. The theoretical significance is the identification of points of control of the effectiveness of risk management from the perspective of stakeholders; practical relevance reflects the toolkit for comparing the company with the best practices.

30-37 1650
Abstract

For the last several years, the Russian Federation has been artificially restraining the growth of tariffs for the services of natural monopolies. A simple decision, which is taken hastily a few years ago as a short-term anti-crisis measure, has every chance of becoming a "solution" for many years to come. The authors attempt to analyze the short-term and long-term effects of the tariff regulation and present the results obtained in the framework of the basic research program of the Higher School of Economics on the impact of tariffs in the energy sector on the main macroeconomic indicators, most often used as arguments in favor of tariff restraint. It is shown that tariffs, including the ones for electricity networks, should cover all efficient costs of regulated companies in full which enables reliable and safe power supply for sustainable and efficient development of industries and wellbeing of the population. The authors present for the first time the results of the estimations of the efficiency of the operational costs of electric networks in Russia obtained on the models developed by the Institute of Pricing and Regulation of Natural Monopolies. The models are based on the data envelopment analysis (DEA) technique, one of the most advanced and most common methods in contemporary tariff setting.

38-43 1111
Abstract

The article is devoted to the actual problem of assessing the effectiveness of consulting methods. Management consulting is a developing sphere of human activity. The technique of an estimation of efficiency of methods of organizational diagnostics is offered. The research was based on the problem of assessing the effectiveness of diagnostic methods in consulting using only economic indicators. According to the methodology, during the evaluation, the effectiveness of methods is is assessed in the light of costs and results, both should be similarly broken down into a number of elements. These elements were to be evaluated by experts. To confirm the validity of the results obtained, statistical indicators are used: variance of a random variable, standard deviation and coefficient of variation, which confirm (or disprove) the results of an expert poll.To approbate the methodology, a survey of experts elected among employees of consulting companies in Omsk was conducted. The survey data was analyzed. Based on the results of the analysis, the validity of the obtained survey results and the possibility of their practical application was concluded. The practical significance of the study is that it is possible to apply the methodology of interviewing experts in practice. The purpose of such surveys will be a regular reassessment and identification of the need for specific consulting methods for certain methods of organizational diagnostics.

44-57 1992
Abstract
Cross subsidizing in power industry is the mechanism allowing one groups of consumers to pay the electric power at the price below limit costs, at the same time for other groups of consumers establishing the price above limit costs. Similar price discrimination leads to that the industrial enterprises buying the electric power on raised tariffs, are compelled to look for cheaper alternative ways of power supply. In this connection the enterprises gradually make the decision on construction of own generating capacities. In this article it is investigated to pass how favorably to a question to the enterprises of various branches to own generation of the electric power at the developed and predicted price level on the electric power for the industrial enterprises taking into account cross subsidizing and on condition of its full reduction.
58-67 1237
Abstract
The article explores parametric management of economic entity production volume within framework of weak and strong hypothesis of bounded rationality. The concept of parametric management with the example of economic entity behavior modeling under the conditions of bounded rationality is considered. The qualitative analysis of nonlinear kinetics differential equations is applied as the basic method of the investigation suggested. The investigation proves the possibility of parametric stimulation of economic entity production volume increasing by the means of: transfers, taxes, fixed prices depending on different conditions, such as the model of economic entity rationality, demand function, borrowing financial assets accessibility. The invariant instruments of parametric management for different models of economic actors strategic behavior are proposed. The managerial problems explored may be generalized for solving the coordination problem as a hole.
68-79 2753
Abstract
Results of scientific research dedicated to consumer involvement in the joint value addition process have been generalized and systematized; peculiar features pertinent to the application of the concept at the Russia’s B2B market have been singled out; methods of consumer involvement in the joint value addition process have been analyzed. In addition, the relationship between the involvement of professional consumers in the value addition process and the consumer loyalty and the innovative business component has been analyzed.
80-87 1031
Abstract
Armenian economy currently experiences a range of fundamental challenges which require institutional solutions. Loans for businesses are allocated under unfavourable conditions as compared with other countries. In the given circumstances, tax incentives are one of the most important elements to ensure economic growth. One of such a tax incentives is abolishment of corporate income tax on retained earnings. The given reform has resulted in substantial economic results in Estonia in the year of 2000. Current contribution poses a comparative study of Estonia’s economy in 2000 (the year of reform) and Armenia’s economy as of now (assuming the reform might take place next year). At the same time, the paper assess the macroeconomic impact of corporate income tax nullification.
88-97 3700
Abstract
Research objective — to create model of obtaining competitive advantages the hi-tech companies. The method of the qualitative and comparative analysis which allows to receive a set of successful and unsuccessful configurations – combinations of factors which bring is chosen or don't lead to desirable result. The model is urged to promote formation of steady competitive advantage — a stable fast conclusion of a large number of qualitative and demanded innovations to the world market. Two successful scenarios for the sector companies "Electronics and technical providing" are revealed. If the company functions in various branches, it needs to concentrate on increase of liquidity and business combination by acquisition affiliated and creations of joint ventures in the macroregion. Managers of the hi-tech companies of the developed countries can use the developed model during the developing and correction of strategy, and also at adoption of administrative decisions. The separate specified factors and were considered earlier in literature, their association in the specified scenario models for obtaining competitive advantages is new development.
98-109 2319
Abstract
Russian football currently finds itself in a challenging economic situation. In light of the upcoming FIFA World Cup in 2018 all members of the Russian football industry will be under immense pressure. Russian professional football clubs have been struggling to keep with European club management standards. This article aims to evaluate the industry-specific features of organizational performance within the context of professional football clubs. The current performance measurement system within Russian football is based on 5 straightforward licensing criteria, which do not conform with international requirements. During the course of the study the author was able to identify the main factors, which may be used to form a new performance measurement system for Russian professional football clubs.The findings of this paper allow to formulate the main directions of future research in the field of organizational performance of football clubs. The most acclaimed methodologies of foreign researchers attempted to combine both sporting and non-sporting (financial, marketing, etc.) indicators. The main theoretical findings may be used to modernize the current licensing system within Russian professional football. This article attempted to systemize the body of literature on organizational performance of sports organizations and football clubs by both Russian and foreign scholars. The conclusions of this study help broaden the understanding that in the current economic realities the ability to win competitions may not be regarded as the sole purpose of professional football clubs. Football clubs must strive to simultaneously achieve success on and off the pitch.


ISSN 2618-947X (Print)
ISSN 2618-9984 (Online)